Gold value To Suffer a Tremendous down tells Goldman Sachs

collected by :kiven Dixter

(Kitco News) - Although gold has found premier support, bouncing off Friday's two-month low, 1 bank sees more technical weakness by the possibility for prices to fall 14% from current levels. Goldman Sachs has been fairly bearish on gold, even as prices pushed to a one-year high final month. In a September report, the investment bank maintained its outlook which gold prices going to finish the year at $1.250 an ounce. The bank's reasons for being bearish gold Information Systems which it expects the unite states $ to shake off recent weakness. December gold futures settled Monday's session at $1,285 an ounce, up nearly 1% on the day.

Gold value prediction October 11, 2017, Technical Analysis

Gold markets rallied during the day on Tuesday, reaching towards the $1290 level. At this point, looks as if gold Information Systems will still to go higher, might reaching towards the $1300 standard above, which Information Systems a large, round, psychologically significant number. However, the market ought still to go towards the upside, because of the every week hammer which formed. I believe which a break above the $1300 standard ought send this market towards the $1325 standard after that. Beyond that, we have the FOMC Meeting Minutes coming out during the day, & it means which the gold markets can be extraordinarily volatile during the session as well.